We are continuing our interview-challenge with the main crypto leaders, asking the most important questions. Read our first part here >>> .
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Lennix Lai – Director of Financial Markets, OKEx
1) What challenges does your exchange face during this period? What problems are the most important for you to solve right now?
Lennix: Crypto exchanges in combating the virus, not only us but across other market players, operates fine given our decentralized nature and trades are in good shape. Trading volume has been higher than last year, however, while we look at the macroeconomy, market in general has been suffering. We have seen recent slumps in bitcoin and other cryptocurrencies, that have led traders or retail customers even crypto fund putting up with the extreme volatility.
Crypto industry after this turmoil, should re-evaluate the market in terms of assessing better risk-management either on capacity or stability, a threshold to bitcoin and other digital assets. The most important thing for us at this moment is to study again the new set of data from this recent slump, whether if bitcoin would become the safe heaven vs the macroeconomy. It could help us to derive alternate measurements in preparing in advance for the future uncertain environment.
2) What challenges does your team face? As a leader, you’re expected to lead your team during this tough period. What kind of actions have been implemented into your team?
Lennix: Virus outbreaks began in Asia around mid-January, internally, we have implemented a work-from-home policy for more than 2 months. Workflow impact is at a minimal circumstance, as we do keep a close connection to each other and being in a tech-opened firm, we are always utilizing with software that connects staff around the globe like zoom meetings or cloud storage. However, fears surrounding the impact of COVID-19 have already significantly impacted the society vibes, many economists and institutions have cut their forecasts and predicts the potential onset of recessionary environments. Despite from work routine, the team would be more of a depressive concern to society in general. Hence it is important to sustain the sentiment of the team. One of OKEx’s core values is that unity is strength — and we’ve watched that value play out in the past few months, yet we tend to keep that vibes up.
3) All financial and crypto markets are falling. What is your vision for the next 6 months and 1 year? How will markets be changed and in what direction after 6 months and 1 year?
Lennix: I think the traditional market has already priced in a certain aspect of the econ impact on the COVID virus with the expectation of shape rebound like SARS. But I think it’s still too early to access the full economic impact and its distinctive effect on the global supply chain. I would say it’s pretty bearish.
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